Foundations Investment Advisors LLC Purchases 1,933 Shares of Eaton Co. plc (NYSE:ETN)

Foundations Investment Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 105.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,763 shares of the industrial products company’s stock after purchasing an additional 1,933 shares during the period. Foundations Investment Advisors LLC’s holdings in Eaton were worth $1,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter worth $33,000. West Financial Advisors LLC acquired a new stake in Eaton in the third quarter valued at about $35,000. DT Investment Partners LLC bought a new position in Eaton in the third quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Eaton during the third quarter worth about $44,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Wells Fargo & Company cut their price objective on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.30.

Eaton Stock Performance

Shares of Eaton stock opened at $312.26 on Wednesday. The company has a market cap of $123.41 billion, a P/E ratio of 33.22, a PEG ratio of 2.57 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $353.01 and a two-hundred day moving average price of $331.34. Eaton Co. plc has a 1-year low of $244.35 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current year.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.